I herewith forward the email received from one of friend IFA Mr. Bharat Bhushan JI from Noida.
I had copied this to all the top executives of HSBC. Let us see the response on this issue.
Ramesh Bhat
IFA Galalxy
---------- Forwarded message ----------
From: Bharat Bhushan <bharat@moneyoptions.in>
Date: Thu, May 19, 2011 at 4:09 PM
Subject: HSBC Mutual Fund
To: IFA Galaxy <ifagalaxy@gmail.com>
I submitted a transmission case to HSBC Mutual Fund.
In Anyone or Survivor Basis folio, one of the holder had expired.
Death Certificate, KYC, Bank particulars, Nomination desired, were all intimated.
The AMC person admits that all desired information is there along with enclosures, but goes on to state that the survivor has not clearly mentioned what is desired.
I wonder if they have multiple option like, survivor expressing that the money can be used by HSBC Mutual Fund for its own welfare.
I had copied this to all the top executives of HSBC. Let us see the response on this issue.
Ramesh Bhat
IFA Galalxy
---------- Forwarded message ----------
From: Bharat Bhushan <bharat@moneyoptions.in>
Date: Thu, May 19, 2011 at 4:09 PM
Subject: HSBC Mutual Fund
To: IFA Galaxy <ifagalaxy@gmail.com>
I submitted a transmission case to HSBC Mutual Fund.
In Anyone or Survivor Basis folio, one of the holder had expired.
Death Certificate, KYC, Bank particulars, Nomination desired, were all intimated.
The AMC person admits that all desired information is there along with enclosures, but goes on to state that the survivor has not clearly mentioned what is desired.
I wonder if they have multiple option like, survivor expressing that the money can be used by HSBC Mutual Fund for its own welfare.
1 comment:
Immediate action and reply from HSBC Mutual Fund
Dear Ramesh
Thanks for bringing this to my attention. I have investigated this and append the reply from my customer service team below. We are also responding to Mr Bharat Bhushan directly on his complaint as well.
_________________________________________________________________________________________________________________________________________________________________________
Dear Mr Bharat Bhushan, Your employee approached our ISC in Delhi and submitted a letter for transmission. He provided documents relevant to the case of demise of one of the two joint holders along with a covering letter. However, the covering letter did not clearly indicate that the request was for transmission of the units to one of the joint holders.
Our Customer Service representative at the front-desk called our RTA immediately to confirm whether the content of the covering letter provided would be adequate. This check was made to ensure that there is no missing documentation and hence there would be no subsequent problems that the investor/distributor would have to face, at a later date . Upon getting the consent on the covering letter along with the supporting documentation provided, from the RTA, our Customer service representative immediately handed over an acknowledgement to the bearer of the documents. The issue was resolved right then and there in the matter of a few minutes.
We regret any inconvenience that you believe has been caused to you.
_________________________________________________________________________________________________________________________________________________________________________
Regards
Nitin
Nitin Singh
Vice President & Head of Retail Channel Sales
HSBC Asset Management (India) Pvt. Ltd.
314 D N Road, Fort, Mumbai 400001, India
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